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Tuesday, December 2, 2008

Markets are on the advance today with US markets pushing global equities higher. It is difficult to ascribe a definitive reason for today’s buying and it would be easy to fall into the trap of finding a story that fits. A rebound from a sell off that went too far yesterdays is a likely contributor as are the noises from central governments that they may be willing to go further to help their ailing economies. Whatever the reason for today’s rally, investor’s a grateful that last week’s gains haven’t been wiped before the end of Tuesday.

Tesco is one of the biggest gainers today in the UK after announcing better than expected sales figures. Traders are impressed with Tesco’s flexibility in being able to compete against both the discount and higher cost super markets. Analysts had feared that discounters Aldi and Lidl would seriously dent Tesco’s earning potential, but the Cheshunt Giant has shown that it can adapt to the new competition and challenging market environment.BetOnMarkets